DGAP-Adhoc: iQ Power AG announces latest developme

iQ Power AG / Key word(s): Miscellaneous 22.07.2013 14:58 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- iQ Power AG announces latest developments - Start of commercial orders in North America - Sub-License officially granted to iQ Power AG for Asia - Re-start of Korean Licensee nearing - Tooling for 2nd Generation plastic parts started - Capital Increase by end of August Zug/Switzerland, 22 July 2013 - iQ Power AG (ISIN: CH0020609688, German Securities Code Number (WKN): A0DQVL; ISIN: CH0199540599 / German Securities Code Number (WKN): A1J7TW), a developer and marketer of technologies for environmentally friendly and technologically leading starter batteries for motor vehicles and licences in these technologies, provides a status report on its ongoing 2013 operations. The Licensee, Smart Battery Inc., NYC. NY., USA, has started the first deliveries of the batteries with iQ Power technology. According to company sources, the first deliveries take place this week to dealers in the network of Battery Energy, one of the largest battery distribution groups in North America. At the beginning, the deliveries will be limited to the 2 most popular North American battery sizes, but in the following timeframe all types for a full product program will be available. Management confirmed their sales forecast for the rest of 2013 of over 250.000 units. Further information can be found under http://www.marketwire.com/press-release/ecovo...first-comm ercial-shipment-its-advanced-ecosmart-lead-acid-batteries-1812918.htm. The Board of Directors of iQ Power Asia has on the 19th of July officially granted a Sub-License for the up until now exclusive territory of Asia. The Sub-License will allow Discover Energy Limited (DEIL), Hong Kong, to be able to market batteries with the iQ Power Technology throughout Asia. DEIL will source the batteries from a long-time, high capacity battery supplier plant as well as iQ Power Asia. The battery supplier can fulfil all orders should iQ Power Asia not be able to meet the capacity demands of DEIL on time. DEIL has a license agreement in place with iQ Power AG at the same conditions as with other Licensees. DEIL has already orders from 3 new large customers. Further new orders as well as orders from existing customers are expected soon. The sales can take place as soon as the new iQ Power 2nd Generation plastic parts are available, which should be at the end of September. As part of the agreement, iQ Power Asia is allowed to market the batteries directly in Europe. The re-start of the iQ Power Asia facility has been unclear since late 2012. New developments point to an agreement in August, which would allow a normalization of production and sales in October. The first steps for normalization should begin in the next couple of weeks. The production of tooling for the important iQ Power plastic parts has started as planned. The delivery of parts should begin by the end of September. Tooling tests and production release for all European (DIN) and Asian (JIS) passenger car sizes should be finished in September. The unique inorganic Product marking material has passed its first tests successfully. As earlier announced, the next part of the Capital Increase from early 2013 should be accomplished by the 2 largest shareholders at the end of August. The Board of Directors About iQ POWER iQ Power develops and markets technologies for new types of starter battery. At the heart of this technology are the world's first starter batteries to feature more efficient automated electrolyte mixing with passive elements - a patent of iQ Power. For iQ Power's licensees, the new generation of starter batteries offers significant advantages in terms of increased customer benefit, higher product reliability and life cycle stability, a longer useful life and improved environmental and resource protection. In 2010, this ecological innovation won iQ Power the prestigious Automechanika Innovation Award for outstanding product innovation. As a stock corporation, iQ POWER AG is a listed company. The company's securities are traded on the regulated market (General Standard) of the German Stock Exchange in Frankfurt, over the counter on the stock exchanges in Berlin, Düsseldorf, Munich and Stuttgart as well as via XETRA (ISIN: CH0020609688, German Securities Code Number (WKN): A0DQVL, IQPB). Contact: Company Contact: iQ Power AG Metallstrasse 9 6304 Zug Schweiz Tel.: +41(0) 41 768 03 63 Fax: +41(0) 41 768 03 68 info@iqpower.com www.iqpower.com Investor Relations Contact: GFEI Aktiengesellschaft Am Hauptbahnhof 6 60329 Frankfurt am Main Tel.: +49 (0)69 - 74 30 37 00 Fax: +49 (0)69 - 74 30 37 22 iQPower@gfei.de www.gfei.de 22.07.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: iQ Power AG Metallstrasse 9 6304 Zug Switzerland Phone: +41 41 7680360 Fax: +41 41 768 03 68 E-mail: investor-relations@iqpower.com Internet: www.iqpower.com ISIN: CH0020609688 WKN: A0DQVL Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------